TOUAX : Information regarding the sale of the European modular activities to TDR Capital LLP

PRESS RELEASE - Paris, 15 November 2017- 6 p.m.

TOUAX
YOUR OPERATIONAL LEASING SOLUTION

Information regarding the sale of the European modular activities to TDR Capital LLP

On June 30, 2017, TOUAX had also announced the signature of an irrevocable put option providing for the sale of its European modular activities with a company owned by TDR Capital II Holdings LLP. This fund is managed by TDR Capital LLP, which currently owns a majority stake in Algeco-Scotsman. TOUAX subsequently signed a share purchase agreement on August 4, 2017.

Despite the satisfaction of the condition precedent relating to the clearance of the competent competition authorities and the irrevocable nature of the share purchase agreement, the closing did not occur due to the purchaser. Based on its disagreement with the purchaser, TOUAX has been obliged to initiate expedited proceedings, pending before the Presiding judge of the Paris Commercial Court, in order to seek injunctive relief requiring the purchaser to perform its obligations under the share purchase agreement.

This proceeding does not change the IFRS 5 analysis with respect to the financial statements which presents the European modular activities as "discontinued operations".

Contacts:

TOUAX
Fabrice & Raphaël Walewski
Managing partners
touax@touax.com
Tel: +33 (0)1 46 96 18 00

ACTIFIN
Ghislaine GASPARETTO
ggasparetto@actifin.fr
Tel: +33 (0)1 55 88 11 11